I would venture to say very few landlords correctly hold their deposits based on local landlord/tenant law but as long as the money doesn't walk away and is not wrongly withheld from tenants its highly unlikely wrongfully storing the funds will become problematic.

Are monthly updates preferred as long as there is bulletproof accounting? 

My long-term goal would be investing in large scale hotels, I know I know, that's quite ambitious, but I don't mind starting small and working my way up there, as long as I start from somewhere!

My recommendation would be to get approved as a Landlord, contact the director's office and request that an inspection be completed before a tenant is selected (sometimes they will do this as long as you select a tenant within 14 days - which you want anyways), and have an online application and screening resource in place.  

I found this article that allows Fannie Mae and Freddie Mac loans to move the loan to an LLC: https://servicing-guide.fanniemae.com/THE-SERVICING-GUIDE/Pa...as long as I am the majority owner in the LLC. 

The eviction process is really not that difficult as long as they don’t appeal it I’ll give you the attorneys name if you would like.  

and if the client would prefer, for example, a specific plumber, that's fine as long as they meet our criteria, which 9 times out of 10 they do.  

They are literally on your side (as long as you are doing it right).  

After 2 years you can apply for a “Rent consideration” (I think that’s what they called it) as long as you still live there and that may allow you to increase rents by more than the annual allowance (probably designed for unit that are very low rents).

Hey @Joel Oh, so let's clarify the NYC rules around STRs.STRs are legal in NYC as long as these directions are followed."